Triton takes Alstom’s thermal power division in €730m deal


steam boiler_lrgNorthern Europe-focused private equity house Triton has agreed a deal for the auxiliary components business of Alstom’s thermal power division for an enterprise value of about €730m.

The business provides air preheaters and gas-gas heaters for thermal power stations, heat transfer equipment for petrochemical and industrial processes, and grinding mills for diversified industrial applications.

Germany-headquartered, the asset is expected to generate revenues of more than €430m for the fiscal year ending yesterday.

Alstom, which already contributed up to 20 per cent of the company’s sales, said it would remain a major customer.

Earlier this week Oslo-headquartered venture capital firm Energy Ventures sold Norwegian oil services company Cubility to Triton for an undisclosed sum.

Cubility has developed MudCube, a solids control and waste management system for drilling operations. The company says its technology provides cost savings for the oil industry through reduced mud, waste and chemicals consumption as well as increased automation.

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